Making Climate Action Count: Turning Ambition Into Reality

Watch the Replay

Making Climate Action Count: Turning Ambition Into Reality

Follow the event on Twitter #VoicesForClimate

Two weeks ahead of a pivotal meeting on climate change (COP26), the Annual Meetings event Making Climate Action Count: Turning Ambition Into Reality brought together global leaders, prominent climate advocates and climate champions from several countries to discuss what the world needs to do to meet the goals of the Paris Agreement. Followed on social media with the hashtag #Voices4Climate, the event also took the audience on a virtual journey around the globe, showing how countries from Vietnam to Brazil are working towards a more sustainable and resilient future.

World Bank Group President David Malpass kicked things off by inviting Colombian President Iván Duque to describe Colombia’s climate goals, followed by a conversation with Mark Carney, the United Nations Special Envoy on Climate Action and Finance, on how to mobilize the trillions of dollars in financing needed to transition to a low-carbon economy. Statements from US Treasury Secretary Janet Yellen, UN Secretary-General Antonio Guterres, His Royal Highness the Prince of Wales, and Gerd Müller, Germany’s Federal Minister for Economic Cooperation and Development, underscored the urgency of global climate action and the protection of the natural world.

Making Climate Action Count also took a deeper dive into the low-carbon transitions needed in energy, food and other sectors, as well as the link between climate and development. World Bank Managing Director of Operations Axel van Trotsenburg and Senior Climate Change Advisor Stephane Hallegatte explained why tackling climate and development challenges together would reduce poverty and pay dividends for people and the planet. Private sector influencers including Unilever CEO Alan Jope and Lowercarbon Capital Chairman Chris Sacca stressed the clear business case for climate action and the crucial role of the private sector in the low-carbon transition.

The event concluded with a look ahead. COP26 President Alok Sharma warned that time is running out to keep the rise in global temperatures to 1.5 °C – the target set out in the Paris Agreement – and called for more public and private finance to fight climate change. In a final video, young activists, students and climate champions urged action at COP26 -- emphasizing that the world is watching the leaders attending COP26.

Quiz results (4202 votes)

POLL: When do you think global greenhouse gas emissions will start to go down?

TOP VOTED QUESTIONS FROM THE AUDIENCE

281 VOTES / Gabriel Babadi
How can the least developed countries contribute to climate action?

161 VOTES / Ahen Akawe
How will the youth take the driver's seat in this campaign?

151 VOTES / Fotios Kalantzis, EIB
How can we make sure that the structural transformation needed to tackle climate change will not lead to increasing inequalities within and across countries and sectors?

135 VOTES / Muzamal Ali
Why are climate change and poverty inextricably linked?

108 VOTES / Muzamal Ali
How is climate change affecting people?

Read the transcript


  • 0:00 [Upbeat Music]
  • 0:11 [Annual Meetings 2021]
  • 0:25 [MAKING CLIMATE ACTION COUNT: TURNING AMBITION INTO REALITY]
  • 0:36 [MERIEM GRAY] Hello and welcome everyone.
  • 0:37 We are here to talk all things climate.
  • 0:39 I'm Meriem Gray and I'm live
  • 0:41 in the World Bank Group's headquarters here in Washington, DC.
  • 0:46 Now, in just over two weeks from today,
  • 0:48 COP26 will kick off in Glasgow,
  • 0:50 [MERIEM GRAY, COMMUNICATIONS LEAD, SUSTAINABLE DEVELOPMENT TEAM, WORLD BANK GROUP]
  • 0:51 a major moment which could send
  • 0:53 a decisive signal about how the world will tackle
  • 0:56 the climate crisis.
  • 0:57 While climate change may be a global challenge,
  • 1:00 the battle will be won, or lost, in individual countries.
  • 1:04 The actions they take now and the policies they put in place today
  • 1:08 hold the key to low carbon, resilient growth for the future.
  • 1:13 So today, we are inviting you on a journey
  • 1:16 to see what climate action actually looks like around the world.
  • 1:20 You will be joined by a host of guests
  • 1:22 from real climate solution activists to global leaders,
  • 1:25 and prominent climate advocates.
  • 1:29 [VIRTUAL ANNUAL MEETINGS 2021] [COMING UP]
  • 1:34 [HOW COUNTRIES ARE ACTING ON CLIMATE]
  • 1:36 [IVÁN DUQUE MÁRQUEZ, PRESIDENT OF COLOMBIA]
  • 1:40 [DAVID MALPASS, PRESIDENT, WORLD BANK GROUP]
  • 1:44 [HOW TO ADVANCE CLIMATE AMBITION]
  • 1:47 [JANET YELLEN, US SECRETARY OF THE TREASURY]
  • 1:49 [ANTÓNIO GUTTERES, UNITED NATIONS SECRETARY-GENERAL]
  • 1:54 [NATURE AND CLIMATE ACTION]
  • 1:56 [HRH THE PRINCE OF WALES]
  • 1:59 [HOW TO TACKLE DEVELOPMENT AND CLIMATE TOGETHER]
  • 2:01 [AXEL VAN TROTSENBURG, MANAGING DIRECTOR OF OPERATIONS, WORLD BANK]
  • 2:06 [CLIMATE SOLUTIONS IN ACTION]
  • 2:07 [VIETNAM] [HONG HOANG, FOUNDER AND EXECUTIVE DIRECTOR, CHANGE]
  • 2:08 [INDIA] [YAMINI AIYAR, PRESIDENT AND CHIEF EXECUTIVE, CENTRE FOR POLICY RESEARCH]
  • 2:10 [JORDAN] [SAMER JUDAH, CHAIRMAN, JORDAN WIND PROJECT COMPANY]
  • 2:14 [FOCUS ON ADAPTATION]
  • 2:15 [PROFESSOR SALEEMUL HUQ, DIRECTOR, INTERNATIONAL CENTRE FOR CLIMATE CHANGE AND DEVELOPMENT, BANGLADESH]
  • 2:19 [FOCUS ON THE PRIVATE SECTOR]
  • 2:20 [CHRIS SACCA, FOUNDER AND CHAIRMAN, LOWERCARBON CAPITAL]
  • 2:21 [ALAN JOPE, CEO, UNILEVER]
  • 2:24 [FOCUS ON COP26]
  • 2:24 [ALOK SHARMA, PRESIDENT, COP26]
  • 2:30 [MERIEM GRAY] We've got so many great guests coming up.
  • 2:34 To kick us off, the President of the World Bank Group,
  • 2:36 David Malpass invited two global leaders
  • 2:38 to share their thoughts on how to make climate action count.
  • 2:42 In this first conversation, he is joined by
  • 2:44 the President of Colombia, Iván Duque
  • 2:46 and in the second, Mark Carney,
  • 2:47 the UN special envoy for climate action and finance.
  • 2:55 [DAVID MALPASS] Thank you, Meriem.
  • 2:57 Welcome everybody to our discussion.
  • 2:59 I'm very pleased to be joined today by President Iván Duque
  • 3:04 to discuss Colombia's approach to climate change.
  • 3:07 Climate change is, of course, a global challenge,
  • 3:10 but the battle will be won or lost in individual countries.
  • 3:15 It's not an equal battle.
  • 3:17 There are advanced economies that have historically emitted
  • 3:21 most of the world's man-made greenhouse gas emissions.
  • 3:24 These countries need to significantly step up every effort
  • 3:28 to reduce greenhouse gas emissions
  • 3:31 and extend support to the rest of the world.
  • 3:35 There are the world's poorest countries, IVDA countries,
  • 3:38 that account for less than a 10th
  • 3:40 of total man-made greenhouse gas emissions
  • 3:43 where we need to see investments in adaptation
  • 3:46 and climate-resilient infrastructure
  • 3:49 and in low-carbon energy at scale.
  • 3:51 And there are countries like Colombia,
  • 3:54 middle-income economies that were hard hit by the crisis.
  • 3:59 As they recover, they also need to think about
  • 4:02 the significant climate-related impacts they face
  • 4:05 and how to contribute to global efforts on mitigation
  • 4:09 while investing heavily in adaptation too.
  • 4:13 President Duque, very glad you could join me today.
  • 4:17 I'd like to welcome you to share your insights into
  • 4:20 how Colombia is thinking about reducing emissions,
  • 4:23 and delivering on adaptation
  • 4:25 and becoming a climate action leader.
  • 4:28 So welcome.
  • 4:29 I know these are very hard efforts.
  • 4:31 I wonder if you'd give us
  • 4:33 a general perspective on Colombia's plans in this area.
  • 4:37 [IVÁN DUQUE] Thank you so much President Malpass.
  • 4:39 It's great to be here with you, David,
  • 4:41 Not only my admiration, but gratitude because we know
  • 4:44 how much you're doing for the countries around the world
  • 4:47 in order to face not only the crisis that has been derived from the pandemic,
  • 4:51 but also how do we recover our economies
  • 4:54 and how do we do it in accordance with the principles
  • 4:56 that we must meet in order to reach
  • 4:59 what we call the highest reduction of CO2 emissions in our history
  • 5:03 and carbon neutrality towards 2050?
  • 5:06 I'll begin by saying that, yes, we're heading to Glasgow,
  • 5:11 and we're heading to Glasgow with a very bold promise and objective
  • 5:17 to be reached.
  • 5:18 The first one is that we want to reduce by 51%
  • 5:22 all of our greenhouse houses emissions by 2030.
  • 5:26 We've also set the goal that we want to reach
  • 5:29 carbon neutrality by 2050.
  • 5:31 Those are the two major goals.
  • 5:33 So yes, we're talking about carbon neutrality,
  • 5:35 but something that is also important, David, is that
  • 5:38 we're talking about nature positive policies,
  • 5:41 carbon-neutral, nature positive policies.
  • 5:44 And by that, we have set the goal of zero deforestation by 2030
  • 5:49 and something that is more important,
  • 5:50 which is to reach the 30 X 30 compromise
  • 5:54 of having the Colombian land or territory to be protected area.
  • 5:59 Considering that those are the major goals,
  • 6:02 the question is, how do we plan to get there?
  • 6:05 First thing to say, energy transition.
  • 6:08 When my administration began,
  • 6:10 we only had 35 megawatts of install capacity
  • 6:13 in non-conventional renewables.
  • 6:15 That was 0.2% of the energy matrix.
  • 6:19 By December 2022,
  • 6:22 we'll have more than 2,000 megawatts of installed capacity in Colombia.
  • 6:27 That means we will pass 14% of the installed capacity,
  • 6:31 and we're heading the road to reach 20% very fast,
  • 6:35 and we even might get higher on that ambitious target
  • 6:39 because we're having a new auction that is going to have projects
  • 6:44 for at least 4,800 megawatts to be installed in the next four years.
  • 6:49 So that's issue number one.
  • 6:51 Issue number two is what we call clean mobility.
  • 6:54 I was the co-author of the bill that passed through Congress
  • 6:58 and that allowed Colombia to have incentives
  • 7:00 so that we can have a replacement in the car fleet around the country.
  • 7:04 And we had a goal to get to 6,000 vehicles before the end of my term,
  • 7:09 and we're reaching this target by the end of this month.
  • 7:12 That means that electric vehicles in Colombia are growing.
  • 7:15 Something that is also very significant,
  • 7:18 we have consolidated the biggest cargo and passenger fleet
  • 7:23 in Latin America and the Caribbean with electric vehicles.
  • 7:27 The third element, circular economy.
  • 7:29 Producing conserving, conserving producing.
  • 7:32 We're getting to zero deforestation agreements
  • 7:34 with multiple sectors in Colombia.
  • 7:36 But we're also encouraging the private sector
  • 7:39 to take a lead in water management, waste management,
  • 7:43 and something that is also aligned with a goal that we have set
  • 7:46 with a One Trillion Trees Initiative,
  • 7:48 help us plan 180 million trees by August 2022.
  • 7:54 The other thing that I should say
  • 7:55 and this is the fourth, very important element is that
  • 7:58 we want to reach that 30 X 30 Initiative,
  • 8:01 30% of the Colombian land being a protected area.
  • 8:04 We're now at 22%.
  • 8:06 We hope to meet that target
  • 8:07 by no longer than August next year.
  • 8:10 I know it is very ambitious, but we have to reach that target,
  • 8:13 not only thinking about the oceans
  • 8:15 but also thinking on on land protected areas.
  • 8:18 And I should also mention something that is very important,
  • 8:21 the protection of the Amazon, the Leticia Pact
  • 8:23 and the compromise that we have
  • 8:26 in order to build nature-based solutions
  • 8:29 and pay for environmental services.
  • 8:31 This five components, David,
  • 8:33 are the cornerstone of the objectives that we have set
  • 8:38 in order to meet the 2050 carbon neutrality nation positive target,
  • 8:42 but also have a 51% reduction on CO2 emissions by 2030.
  • 8:47 [DAVID MALPASS] President Duque, I want to thank you very much
  • 8:50 for joining us today,
  • 8:51 and it sounds like huge challenges,
  • 8:53 and you've got a clear direction
  • 8:55 of where you're going on them.
  • 8:57 I appreciate it. Thanks.
  • 9:02 [DAVID MALPASS] Hello. I'm glad to be back.
  • 9:04 And here joined with Mark Carney.
  • 9:07 [WASHINGTON DC, USA] He doesn't need much introduction,
  • 9:08 [OTTAWA, CANADA] but I'll remind people he was the head
  • 9:10 of two different central banks, Canada and the United Kingdom.
  • 9:14 That's a huge job right there.
  • 9:16 Also head of the Financial Stability Board.
  • 9:19 And for those involved in climate, he needs no introduction.
  • 9:22 He's been hugely involved for years in this issue of
  • 9:26 how do we get enough financing
  • 9:27 to actually have an impact on climate change.
  • 9:31 Mark, thank you for being here.
  • 9:33 I'm interested in that question.
  • 9:36 Where do you think we are currently on the idea of
  • 9:39 the amounts of money needed and how we connect them to projects?
  • 9:43 I have ideas, but I really want to hear
  • 9:46 how you're thinking about that challenge.
  • 9:50 [MARK CARNEY] Absolutely. Thank you, David, for having me.
  • 9:52 I know you're incredibly busy working on these
  • 9:54 and many other issues.
  • 9:56 The first thing to say is scale of the problem
  • 9:58 or scale of the issue,
  • 9:59 which is we need to effectively double spending investment
  • 10:03 on energy infrastructure for decades.
  • 10:06 We're talking an extra two, two and a half trillion dollars
  • 10:11 of investment in energy infrastructure alone.
  • 10:14 And that's before the spending on resilience adaptation,
  • 10:17 hard-to-abate sectors' other aspects.
  • 10:20 About three quarters of that spend will be
  • 10:22 in emerging and developing economies, as you know well.
  • 10:25 So these are big, big numbers approaching 2% of global GDP,
  • 10:29 where's the money going to come from?
  • 10:31 As you know, the bulk from the private sector
  • 10:33 and let me just give you one figure and then hand back
  • 10:36 which is what we've been working on is getting
  • 10:39 the best of the private sector committed to net zero transition,
  • 10:42 big banks, insurers asset, managers asset, owners.
  • 10:45 The number, as we speak today,
  • 10:47 is 90 trillion, nine zero trillion dollars
  • 10:50 of balance sheet committed for that.
  • 10:52 And that's not for some distant date.
  • 10:55 It's near term, five year commitments,
  • 10:57 fair share of the 50% reduction by 2030.
  • 11:01 So now the challenge is, how do we marry that capital,
  • 11:05 that commitment with where it's needed most,
  • 11:08 channel it to those emerging and developing economies.
  • 11:11 [DAVID MALPASS] I just spoke with
  • 11:12 President Iván Duque, the president of Colombia.
  • 11:15 Colombia has an NDC that's interesting.
  • 11:17 It's to reduce by 50% from the baseline.
  • 11:21 So the baseline is for growth in greenhouse gas emissions
  • 11:25 and it's going to be reduced by 50% by 2030.
  • 11:29 So it's a tall order.
  • 11:31 I asked him, how do you finance that?
  • 11:33 And it means a lot of projects.
  • 11:35 Identifying the major emitters within Colombia,
  • 11:39 some of which are land used, for example, in addition to fossil fuels.
  • 11:44 How do you reduce that?
  • 11:45 You can finance it somewhat by securitizing assets
  • 11:49 as they come available, by creating ways to subsidize
  • 11:54 or to add grant money, foundation money, for example,
  • 11:58 to a given project working maybe with the World Bank
  • 12:01 or with the Inter-American Development Bank on a way to do a project.
  • 12:05 So it brings together all the sources of financing
  • 12:08 with the projects that are to be done.
  • 12:13 Can we discuss various new techniques that that can be done through
  • 12:17 with your huge expertise in that?
  • 12:21 [MARK CARNEY] Well, I think the thing and it's very exciting
  • 12:22 [MARK, CARNEY, SPECIAL ENVOY ON CLIMATE ACTION AND FINANCE, UNITED NATIONS]
  • 12:23 [UK PRIME MINISTER JOHNSON'S FINANCE ADVISOR FOR COP26]
  • 12:24 what President Duque and Colombia are doing,
  • 12:27 and I think this goes directly to where we can move the system.
  • 12:31 As you will know, the World Bank has been developing and working hard
  • 12:35 on country platform approaches,
  • 12:37 and I think the opportunity is to extend them and blend in
  • 12:42 that very large scale of money, I was just talking about
  • 12:45 the 90 trillion from geo-fence
  • 12:48 and what we need to have at the heart of it are two things.
  • 12:52 I think one is,
  • 12:53 the appropriate blended finance vehicles at scale.
  • 12:56 So think of the IFC's MCPP is one great example of that.
  • 13:02 There are other examples.
  • 13:04 Those appropriate approaches,
  • 13:06 the right private sector forms of financing,
  • 13:10 CFLI is an example, FAST infrastructure, a new example.
  • 13:14 These are proven methods that the private sectors come together
  • 13:18 for the format for project investing,
  • 13:20 but as well, I think with the imprimatur, if I may,
  • 13:24 of the World Bank and others
  • 13:25 to say that a program such as Colombia's is consistent with
  • 13:30 the transition the world needs that unlocks an opportunity
  • 13:34 for the private sector, which is looking
  • 13:35 for exactly that type of net zero alignment
  • 13:38 but really isn't on its own able to make those determinations
  • 13:42 independently or else, it's subject to Greenwash
  • 13:45 and other concerns.
  • 13:48 Bringing all those elements,
  • 13:49 the best of blended finance of the World Bank and other MDBs,
  • 13:53 the best of private sector platform approaches,
  • 13:55 CFLI, FAST and FROZE two examples,
  • 13:57 there are a few more that geo-fence identified,
  • 13:59 but also connecting them with pure private finance
  • 14:03 that's consistent with the transition,
  • 14:05 such as the one you just discussed in Colombia.
  • 14:08 [DAVID MALPASS] Thanks. That's a great close.
  • 14:10 I want to thank Mark Carney for all the engagement here today.
  • 14:15 Thanks.
  • 14:16 [MARK CARNEY] Great. Thanks, David. Thanks for everything you're doing.
  • 14:19 [Upbeat music]
  • 14:21 [BANGLADESH] Hello. I'm [inaudible speech]
  • 14:22 and you're watching the World Bank Group-IMF Annual Meeting.
  • 14:28 [MERIEM GRAY] Thank you to David and his guests
  • 14:30 for those insights on turning climate ambition into reality.
  • 14:33 And the conversation didn't stop there.
  • 14:35 You can watch both full discussions using the link.
  • 14:38 You should be able to see on your screen right now.
  • 14:40 [LIVE.WORLDBANK.ORG/CLIMATE]
  • 14:41 We are streaming this event in English, Spanish, French, Arabic,
  • 14:46 on World Bank Live and on our social media channels.
  • 14:49 And to tell us a little more about how to get involved,
  • 14:51 I'm joined by my colleague Sri Sridhar.
  • 14:53 Welcome Sri.
  • 14:54 [SRI SRIDHAR] Thanks, Meriem.
  • 14:55 [MERIEM GRAY] Can you please tell us a little more about
  • 14:57 how people can get involved and what else is ahead of us?
  • 15:02 [SRI SRIDHAR] So you mentioned our social media channels
  • 15:04 [HOW TO HAVE YOUR SAY] and we are on Facebook,
  • 15:05 Twitter, and Instagram,
  • 15:07 and you can share your comments at any time using the hashtag
  • 15:10 [SRI SRIDHAR, COMMUNICATIONS OFFICER, WORLD BANK GROUP]
  • 15:10 for today's event, which is Voices for Climate.
  • 15:12 You can also post questions and comments
  • 15:14 directly on live.worldbank.org.
  • 15:17 So a lot of ways for folks to really get engaged
  • 15:21 and join the conversation.
  • 15:22 You did mention that the event is being streamed in
  • 15:24 English, Spanish, French and Arabic.
  • 15:26 And we actually have live expert bloggers standing by
  • 15:29 in all four languages to answer as many questions as possible.
  • 15:33 And the really cool thing is that some of the most popular questions
  • 15:36 that come in have a chance of being asked
  • 15:39 by some of those senior experts later today.
  • 15:42 [MERIEM GRAY] So we will be joined by Axel Van Trotsenburg,
  • 15:45 managing director for operations at the World Bank,
  • 15:47 and Stephane Hallegatte who is our senior advisor
  • 15:50 at the World Bank Group's climate team.
  • 15:55 I also understand we are asking people to take part in the quiz, right?
  • 15:59 [SRI SRIDHAR] Yes. So today's quiz asks,
  • 16:02 when do you think global greenhouse gas emissions
  • 16:04 will start to go down?
  • 16:05 And there are four options.
  • 16:06 Have they already started to go down?
  • 16:08 Will they go down in 2030, 2050 or will they never go down?
  • 16:13 So once more, the quiz today asks,
  • 16:15 when do you think emissions will start to go down?
  • 16:17 They already have started to go down?
  • 16:19 They'll go down in 2030, 2050 or never?
  • 16:23 So to take part in this quiz, head on over to live.worldbank.org
  • 16:27 and get your vote in before the quiz closes.
  • 16:29 [MERIEM GRAY] Thank you so much, Sri.
  • 16:30 We will be coming back to you later for an answer.
  • 16:32 [SRI SRIDHAR] Thanks, Meriem.
  • 16:34 [MERIEM GRAY] Next up, we are going to hear
  • 16:36 from several people about how best to advance
  • 16:38 the climate agenda.
  • 16:40 First from Janet Yellen, Secretary of the United States Treasury.
  • 16:48 [JANET YELLEN] Hi Everyone.
  • 16:49 I'm Janet Yellen, the US Treasury Secretary.
  • 16:53 I want to thank President Malpass
  • 16:56 for the chance to say a few words
  • 16:58 about climate change in the United States role
  • 17:02 in addressing this existential threat.
  • 17:05 As I record this video,
  • 17:07 a host of climate proposals are moving through our Congress.
  • 17:12 The president has proposed dotting
  • 17:17 with 500,000 electric vehicle chargers
  • 17:20 and funding from fundamental R and D in nascent green technologies.
  • 17:26 But we also know that our efforts
  • 17:28 to address climate change cannot stop at the border.
  • 17:33 In July, when many of us met in Venice,
  • 17:36 I outlined the United States' plan to double
  • 17:38 our public international climate finance
  • 17:41 to developing countries by 2024.
  • 17:45 Last month, President Biden went to the UN General Assembly
  • 17:50 and announced that we're doubling that number again.
  • 17:54 The United States has committed 11.4 billion dollars per year,
  • 17:59 including financing for adaptation efforts.
  • 18:03 Indeed, as we approached COP26,
  • 18:06 there's renewed urgency for all nations
  • 18:09 to take the necessary steps toward the global goal
  • 18:13 of keeping warming below one and a half degrees Celsius.
  • 18:19 The multilateral development banks,
  • 18:21 as this Group knows better than anyone,
  • 18:24 play a leading role here.
  • 18:26 They help emerging economies prioritize climate investments
  • 18:31 integrate climate resilience into infrastructure planning,
  • 18:35 protect critical ecosystems,
  • 18:38 an increased climate ambition
  • 18:40 as part of their nationally determined contributions
  • 18:44 and long term strategies.
  • 18:46 The United States is a large shareholder
  • 18:49 in the multilateral development Banks,
  • 18:52 and we're committed to using our position of leadership
  • 18:55 to help facilitate a global transition
  • 18:59 toward net zero emissions by mid-century.
  • 19:02 In fact, I convened a meeting
  • 19:04 of the heads of the multilateral development banks
  • 19:07 over the summer,
  • 19:09 and I asked that each institution develop concrete plans
  • 19:14 to raise their climate ambitions
  • 19:16 and to identify specific ways
  • 19:19 they could each mobilize climate finance
  • 19:22 for developing countries.
  • 19:25 Of course, no amount of public financing alone will be sufficient
  • 19:29 to meet the goals of the Paris Agreement.
  • 19:32 Private capital will be essential to fill the gap.
  • 19:37 As we work to mobilize this capital,
  • 19:39 we must continue to focus
  • 19:42 on addressing the ongoing challenges
  • 19:44 that emerging markets in developing countries face
  • 19:48 and attracting private sector financing,
  • 19:51 especially for greenhouse gas mitigation
  • 19:54 and adaptation infrastructure,
  • 19:58 and to reduce these impediments to investment.
  • 20:02 I look forward to our discussions over the coming week
  • 20:05 and hearing more from you
  • 20:07 on how we can move beyond our ambitions
  • 20:10 to definitive action.
  • 20:16 [GLASGOW 55.8600ºN 4.2854ºW]
  • 20:23 [MERIEM GRAY] Thank you to Madam Secretary
  • 20:25 for that message on the role of multilateral development banks
  • 20:28 in helping emerging economies to meet their climate ambition.
  • 20:31 I know that's something our next guest also feel strongly about.
  • 20:34 Let me welcome Axel van Trotsenburg,
  • 20:36 World Bank's Managing Director of Operations.
  • 20:39 Axel, we know we work a lot on identifying specific ways
  • 20:43 to help developing economies to meet climate targets,
  • 20:46 which really means
  • 20:47 rethinking how develop and climate change intersect.
  • 20:51 How is the bank applying this thinking?
  • 20:53 [AXEL VAN TROTSENBURG] Climate is really affecting all our lives.
  • 20:58 We need to think not in an isolated way about climate,
  • 21:03 There is a problem with pollution
  • 21:07 or there is a problem with weather-related events.
  • 21:13 You need to think more globally.
  • 21:15 What we have been saying is,
  • 21:17 let's look at this comprehensively
  • 21:21 and first, we want to understand the drivers of this v
  • 21:26 but not in isolation, but in relation to development.
  • 21:30 Our latest climate change action plan
  • 21:36 includes the so-called Country Climate and Development Reports.
  • 21:41 [LIVE: WOLRD BANK MANANGING DIRECTOR OF OPERATIONS ON CLIMATE CHANGE AND DEVELOPMENT]
  • 21:42 It's precisely to address climate and development.
  • 21:46 Let's keep this in mind,
  • 21:47 the World Bank has its mission to reduce poverty,
  • 21:51 and we have made great progress.
  • 21:53 But climate change could undo some of this progress.
  • 21:57 In the worst case event, we could see an increase
  • 22:01 in extreme poverty
  • 22:03 throughout this decade by about 130 million people.
  • 22:07 We don't hope that that will happen,
  • 22:09 but it's fairly clearly related that you have climate
  • 22:12 and it can affect people, therefore need to do this.
  • 22:16 So we bring this together
  • 22:17 And then when we're looking at the drivers,
  • 22:20 we like to drivers not only to look at all the sectors
  • 22:25 be it in the agriculture sector,
  • 22:27 forestry sector, what's with the services sector,
  • 22:30 what is also happening in the financial sector,
  • 22:35 but then also how certain policies can affect climate action,
  • 22:41 from fiscal policy to overall economic and sectorial policy.
  • 22:46 So that is how we try to bring this together.
  • 22:49 What's then ultimately important is that
  • 22:52 not only we understand drivers, but that we do something about this.
  • 22:57 And here, the Bank has been scaling up its engagement.
  • 23:02 We had had a very strong last five years
  • 23:05 where we delivered over 83 billion dollars
  • 23:09 in climate-related financing.
  • 23:12 Our intention in the next five years is
  • 23:14 to increase this by 50%.
  • 23:17 So what we are trying is really to scale this up
  • 23:21 and we hope that everybody joins us.
  • 23:24 [MERIEM GRAY] Thank you so much, Axel.
  • 23:25 Thank you.
  • 23:26 Climate change may be a global challenge,
  • 23:29 but every country counts in this fight.
  • 23:31 We asked a climate activist from Vietnam
  • 23:34 to share her thoughts on how we can all play a part.
  • 23:44 [CLIMATE JOURNEY VIETNAM] [MEKONG DELTA 10.0634ºN 105.5943ºE]
  • 23:48 Last year, 2020, we experience the worst drought and salinity
  • 23:52 in the Mekong Delta, the major rice producer of the country.
  • 23:56 Many farmers lost their crops.
  • 23:58 People carrying a lot of water containers
  • 24:01 and standing in super long line waiting to get or buy fresh water.
  • 24:07 [CENTRAL VIETNAM 14.6517ºN 108.4276ºE]
  • 24:10 [Hong Hoang] Last year, people in central Vietnam
  • 24:12 went through record floods and typhoons
  • 24:15 back to back, costing hundreds of human lives
  • 24:19 and huge economic losses.
  • 24:21 There are many more people right now aware that, "oh, it's climate change",
  • 24:26 But most of them would say, "well, there's nothing much
  • 24:30 I can do about it."
  • 24:39 [CHANGE, A NON-PROFIT WORKING WITH YOUNG PEOPLE TO DELIVER CLEAN ENERGY IN VIETNAM]
  • 24:41 Many NGOs, including mine,
  • 24:42 have been working with these amazing young people
  • 24:45 so that they can implement their own projects to address
  • 24:49 their own environmental and climate problems of the province.
  • 24:53 Also, business corporations are seeing more of their responsibilities
  • 24:57 to contribute to a low carbon, sustainable economic growth.
  • 25:02 But I think the best part is when the community,
  • 25:05 especially young people are stepping up everywhere
  • 25:09 and taking the lead of the climate movement in the country.
  • 25:13 My vision for a successful climate action is where the movement is led
  • 25:19 by the community, by the young people
  • 25:21 but is supported by everyone in the society.
  • 25:25 This climate change is too big.
  • 25:27 It's a huge crisis that would require everyone to work together.
  • 25:41 [ANTÓNIO GUTTERES] Excellencies, colleagues,
  • 25:43 as COP26 approaches, it is essential for all humanity
  • 25:47 that will fulfill the promise of the Paris Agreement.
  • 25:51 That means reducing emissions by half by 2030
  • 25:55 and achieving net zero emissions by mid-century,
  • 25:58 so we can limit temperature rise to 1.5 degrees from pre-industrial levels.
  • 26:03 It means providing and exceeding 100 billion US dollars a year
  • 26:08 to developing countries for climate action
  • 26:10 and shifting all financial flows to promote net zero emissions
  • 26:14 and resilient development.
  • 26:16 And it means protecting people from the impacts of climate disruption
  • 26:20 and relocating at least half of all public climate finance to adaptation.
  • 26:25 We are not yet there.
  • 26:28 Despite some recent encouraging announcements,
  • 26:31 I remain especially concerned over the lack of progress
  • 26:34 on public climate finance.
  • 26:36 Let us be very clear,
  • 26:38 100 billion dollars a year from public and private sources
  • 26:42 for mitigation and adaptation for the developing world
  • 26:45 is the bare minimum.
  • 26:47 Much more will be needed,
  • 26:49 and development banks have an essential role to play.
  • 26:52 We need you to spare ahead the transition of energy systems
  • 26:55 from fossil fuels to renewables
  • 26:57 while also ensuring universal access to energy.
  • 27:01 You must lead the way in supporting credible just transition plans.
  • 27:05 And you must marshal efforts to fund green, resilient and inclusive recoveries
  • 27:10 without exacerbating the sovereign depth crisis
  • 27:12 that crippled low and middle-income countries.
  • 27:16 It is essential to avoid entrenching developing countries
  • 27:20 in high carbon, fossil fuel intensive investments
  • 27:23 with high stranded asset risks.
  • 27:26 Critically, you must encourage private finance at scale.
  • 27:31 Despite commitments made in Paris and repeated every year since,
  • 27:34 leverage ratios of multilateral development banks
  • 27:37 are nowhere near what is needed for transformative impact.
  • 27:41 Excellencies, let me turn now to adaptation resilience.
  • 27:45 There are no other institutions better placed than
  • 27:47 development banks to fund adaptation needs.
  • 27:50 If multilateral regional and other public development banks
  • 27:53 do not lead on this front, no one will.
  • 27:56 It is your responsibility to ensure that climate impacts
  • 27:59 will not jeopardize hard won development gains.
  • 28:03 Years of work and trillions of dollars in investments are at risk.
  • 28:07 That is why I'm asking dollar countries
  • 28:09 and multilateral development banks
  • 28:11 to allocate at least 50% of their climate finance
  • 28:14 to adaptation and resilience.
  • 28:17 Excellencies, friends.
  • 28:19 The clock is ticking.
  • 28:21 The world is growing anxious.
  • 28:23 We need your leadership and I wish you a productive meeting.
  • 28:27 I thank you.
  • 28:31 [GLASGOW 55.8600ºN 4.2854ºW]
  • 28:38 [MERIEM GRAY] What a great message from the UN Secretary General
  • 28:41 about why COP26 is so critical and what's at stake.
  • 28:46 Now, one of the critical ways to address the climate crisis is through
  • 28:49 what's called "nature-based solutions" or "green infrastructure".
  • 28:53 Everything from mangroves on coastlines to green spaces in urban areas.
  • 28:58 Our next guest, His Royal Highness, the Prince of Wales,
  • 29:01 has long been a passionate advocate of the importance of nature and biodiversity.
  • 29:06 Here's what he had to say.
  • 29:11 [HRH THE PRINCE OF WALES] Ladies and gentlemen,
  • 29:13 I am enormously grateful to have been invited to join you
  • 29:16 for this year's annual meetings
  • 29:18 of the World Bank Group and the International Monetary Fund.
  • 29:23 As we look to build forward better from this pandemic,
  • 29:27 it is increasingly clear that human health, planetary health,
  • 29:31 and economic health are fundamentally interconnected.
  • 29:36 77 years on from the Bretton Woods Conference,
  • 29:40 and with global threats now surpassing those we saw
  • 29:44 in the Second World War,
  • 29:46 we simply must seize the current window of opportunity
  • 29:50 to reimagine our global systems
  • 29:49 of opportunity to reimagine our global systems
  • 29:52 in a way, that puts nature, people, and planet
  • 29:56 at the heart of how we operate
  • 29:59 to consider how to do this and how to catalyze
  • 30:03 the trillions of dollars needed for transition.
  • 30:07 I convened a group of international CEOs
  • 30:11 to help develop a Terra Carta,
  • 30:14 a practical blueprint for practical action.
  • 30:18 The result identifies three key priorities.
  • 30:21 First, encouragement to governments
  • 30:25 to send clear market signals
  • 30:27 about long term economic direction
  • 30:30 and the timelines involved
  • 30:32 to incentivize the achievement
  • 30:35 of climate, biodiversity and just transition targets.
  • 30:39 This could helpfully include
  • 30:42 clear sustainability mandates
  • 30:44 for the multilateral development banks.
  • 30:47 Only with this kind of clarity
  • 30:50 can industries and investors alike
  • 30:53 have the confidence they need
  • 30:55 to channel a trillions of dollars at their disposal
  • 30:58 towards a sustainable future.
  • 31:00 Second, to meet the world's 1.5 degree target
  • 31:06 we need to align industry, investment,
  • 31:09 and country transition roadmaps
  • 31:12 to build pipelines of investable and genuinely sustainable projects.
  • 31:18 Multilateral development banks have a critical role to play
  • 31:23 to help build technical capacity, mitigate risk,
  • 31:28 and improve the flow of private finance,
  • 31:31 particularly in the world's most climate vulnerable countries.
  • 31:35 Third, consumers control over 60% of global GDP
  • 31:40 so they need clear information
  • 31:42 about the sustainability of products and services
  • 31:46 they are buying in order to make informed choices.
  • 31:50 This is starting to happen, be it through sustainably grown food,
  • 31:55 green transportation, sustainable fashion, or working for sustainable employers.
  • 32:01 Mandating global standards,
  • 32:04 including through internationally recognized labeling,
  • 32:07 would be transformational.
  • 32:09 Ladies and gentlemen, to seize this moment of acceleration,
  • 32:14 we simply must work together
  • 32:16 across public, private, and philanthropic sectors
  • 32:21 to build a pipeline of transformative projects
  • 32:24 at scale that can help us rapidly transition to a sustainable future.
  • 32:31 Leveraging the private sector's estimated 145 trillion dollars
  • 32:36 in assets under management, projected by 2025
  • 32:41 will be key to our collective success.
  • 32:45 Here, the World Bank, the IMF
  • 32:48 and regional multilateral development banks
  • 32:51 have a crucial role to play
  • 32:53 in removing the risk barrier to private financial investment.
  • 32:58 I'm afraid it is time to roll up our sleeves
  • 33:02 and detail our plan of actions.
  • 33:05 In particular, I would like to encourage
  • 33:09 that we look at accelerating private finance,
  • 33:13 including through first and second loss guarantee pools,
  • 33:17 advancing systems level solutions,
  • 33:21 including by looking at governance and mandates
  • 33:25 and enhancing technical and operational capacity,
  • 33:29 including preparing projects for investment.
  • 33:34 With action on climate change, biodiversity loss,
  • 33:38 and a just transition more urgent than ever.
  • 33:42 I can only encourage us all
  • 33:44 to get to work and sort this problem out.
  • 33:50 [ANNUAL MEETINGS 2021, WASHINGTON DC]
  • 33:51 [GERD MÜLLER, FEDERAL MINISTER FOR ECONOMIC COOPERATION AND DEVELOPMENT, GERMANY]
  • 33:52 Your Royal Highness. Excellences. Ladies and gentlemen.
  • 33:56 Time is running out for a 1.5 degree target.
  • 34:01 Our challenges are huge.
  • 34:04 The COVID-19 pandemic, extreme poverty,
  • 34:07 persistent conflicts, the climate crisis.
  • 34:11 If you don't change cost, global temperatures will increase
  • 34:15 to two, maybe three degrees Celsius by the end of the century.
  • 34:21 We still have a chance to go green.
  • 34:26 We have the knowledge and the technologies
  • 34:28 to address these crisis.
  • 34:30 We also have the resources.
  • 34:33 Many countries are planning massive investments
  • 34:37 to restart the economies,
  • 34:39 but only ten percent of the recovery programs
  • 34:43 target resilience and green investments.
  • 34:46 That is why we started the Green Recovery Initiative.
  • 34:51 We work together with the Word Bank, Austria and the UK
  • 34:56 to strengthen this initiative.
  • 34:58 Germany will provide an additional 60 million Euro.
  • 35:04 The initiative will support a global transformation role,
  • 35:09 policies that put a price on carbon,
  • 35:12 and phase out fossil fuel subsidies,
  • 35:16 targeted private investments in renewable energies,
  • 35:20 green infrastructure and nature-based solutions.
  • 35:24 We cannot wait any longer to fight climate change.
  • 35:29 Concrete actions for such a global transformation
  • 35:32 are key for a successful COP26.
  • 35:37 [WIND BLOWING]
  • 35:40 [GLASGOW, 55.8600°N, 4.2854°W]
  • 35:45 [MOSES ALEX KARGBO] [Speaking in foreign language]
  • 35:49 I am Moses Alex Kargbo in Freetown, Sierra Leone
  • 35:52 and you're watching the World Bank-IMF Annual Meetings.
  • 35:58 [MERIEM GRAY] A huge thank you to minister Gerd Müller
  • 36:01 for this message
  • 36:02 I'm joined now by Stephane Hallegatte
  • 36:05 who is a senior advisor to the World Bank Climate Change Team
  • 36:09 Stephane, it feels like every day there is another climate news,
  • 36:15 whether it's, you know, a record-breaking heat,
  • 36:18 or wildfires, to devastating floods and hurricanes.
  • 36:22 So-- And this is impacting people across the world.
  • 36:24 Is this something we should be really this surprised about?
  • 36:27 [STEPHANE HALLEGATTE, SENIOR ADVISOR AND ECONOMIST, CLIMATE CHANGE TEAM, WORLD BANK GROUP]
  • 36:28 No, we're not surprised about this.
  • 36:29 Actually, this is what was expected decades ago already.
  • 36:33 Even a minor change in the average climate
  • 36:36 can have a huge impact on extreme events.
  • 36:38 So if you look at heat waves, heavy rainfall or wildfires,
  • 36:44 we see already a lot of difference in the frequency and intensity.
  • 36:47 And as you said, everybody is affected.
  • 36:49 But for us here, at the World Bank,
  • 36:51 what really matters is the fact that poor people
  • 36:53 are more affected than the rest,
  • 36:55 and that these extreme events increase poverty.
  • 36:57 Today, we estimate that the natural disasters
  • 37:01 already push 26 million people per year in poverty.
  • 37:04 And if we look at 2030, it's up to 130 million people
  • 37:09 that could fall in poverty, just because of climate change.
  • 37:11 [MERIEM GRAY] Well, those are really shocking numbers.
  • 37:15 So is it all just bad news? Are there things we can do?
  • 37:18 [STEPHANE HALLEGATTE] Well, the first thing
  • 37:19 is if poverty explains vulnerability,
  • 37:22 it means that when we take people out of poverty,
  • 37:24 we make them less vulnerable
  • 37:25 and we reduce the impact of climate change.
  • 37:27 So richer people with better savings,
  • 37:30 better access to healthcare,
  • 37:32 financial inclusion and so on, can better adapt and cope.
  • 37:36 So our mission here, reducing poverty
  • 37:38 is also a mission to reduce the vulnerability
  • 37:41 of this population and make them less vulnerable.
  • 37:44 Of course, this is over the short run.
  • 37:46 If you look at the long term, we also need
  • 37:49 to stabilize climate change and reduce carbon emissions.
  • 37:52 [MERIEM GRAY] So broadly,
  • 37:55 all countries have committed to tackle climate change
  • 37:58 and on both sides of it,
  • 38:00 reducing emissions and making people less vulnerable to it.
  • 38:04 So what needs to be done and what comes first.
  • 38:06 [STEPHANE HALLEGATTE] So the first thing to know
  • 38:08 is that to stabilize climate change,
  • 38:10 So, to stop the increase in temperature,
  • 38:12 carbon emissions need to go to zero.
  • 38:14 So we're not talking about a reduction by ten or 20 percent.
  • 38:17 No, we're talking about a radical change going to zero.
  • 38:20 And of course, that makes the challenge
  • 38:22 look daunting, extremely difficult.
  • 38:24 And yes, it is difficult.
  • 38:25 But what we'll try to convince everybody today
  • 38:28 is that it is possible to do it
  • 38:30 and it is easier than it looks.
  • 38:32 And it's easier if we cut the problem in two pieces.
  • 38:35 So let's start with energy.
  • 38:37 We know energy is critical for development,
  • 38:39 it's critical for modern technologies
  • 38:41 quality of life, growth and productivity.
  • 38:44 Still, today, 800 million people don't have access to electricity.
  • 38:49 So we have a major development challenge here.
  • 38:52 At the same time, energy is responsible
  • 38:54 for 70 percent of carbon emissions globally.
  • 38:57 So this is also a climate challenge.
  • 38:59 So, here, this is a combi--
  • 39:01 A combination of climate and development challenge
  • 39:03 we have in front of us.
  • 39:05 [MERIEM GRAY] Stephane-- Stephane,
  • 39:07 let's just take a look at the data now and see
  • 39:11 how different sectors contribute to this total.
  • 39:15 Let's take a look at the line,
  • 39:17 which shows a contribution of electricity and heat.
  • 39:20 So this is almost 16 billion tons of CO2 equivalent
  • 39:23 per year, already today.
  • 39:24 [MERIEM GRAY] Next up, transport,
  • 39:27 effectively how we move
  • 39:28 around the cities and across countries.
  • 39:30 [STEPHANE HALLEGATTE] In this one, you see
  • 39:32 almost a straight line going up.
  • 39:33 [MERIEM GRAY] Going up.
  • 39:34 And lastly, manufacturing and construction.
  • 39:38 So looking at this, clearly, energy is the biggest part.
  • 39:43 [STEPHANE HALLEGATTE] Yeah. And those three lines
  • 39:45 need to go to zero.
  • 39:46 So how do we make that happen?
  • 39:48 So the first thing is to make electricity
  • 39:51 without emitting carbon,
  • 39:53 and we can do that by investing massively in renewable energy.
  • 39:57 It's the first thing we can do.
  • 39:59 So that's solar, wind, geothermal
  • 40:01 and the good news is the costs of those technologies
  • 40:04 have dropped so much recently
  • 40:06 that this is cheaper than fossil fuels today.
  • 40:08 So, we can invest in renewable and it's affordable now.
  • 40:12 In parallel, we have to exit from fossil fuels
  • 40:15 in electricity generation.
  • 40:17 That's the second thing we need to do
  • 40:18 and that, we have to do it very carefully
  • 40:20 because first, we have to keep the stability of the system.
  • 40:23 And second, some communities are very dependent on coal.
  • 40:27 And if we want to just transition,
  • 40:29 we need to invest in those communities to make sure they can transition away
  • 40:33 from coal and find other livelihoods, other economic activities.
  • 40:36 [MERIEM GRAY] So this is cleaning up our power systems.
  • 40:40 What next?
  • 40:41 [STEPHANE HALLEGATTE] So, as we go towards
  • 40:43 zero carbon electricity,
  • 40:44 we have to use much more of this electricity.
  • 40:47 So, it's using electric buses,
  • 40:49 electric cars to move around,
  • 40:51 using heat pumps to heat our homes
  • 40:53 and also cooking with electricity, for instance.
  • 40:56 And when we can't use electricity, like for heavy industries,
  • 41:00 we have to find other carbon free fuels,
  • 41:02 like hydrogen that we produce with renewable energy.
  • 41:05 And by the way, this would go a long way
  • 41:07 solving air pollution challenges that we face today.
  • 41:10 We're doing it. We're doing it.
  • 41:12 We're going in that direction.
  • 41:13 But it would be much easier
  • 41:15 if we're very efficient in how we use energy.
  • 41:17 And that's the fourth thing we have to do.
  • 41:19 We have to have our buildings well insulated.
  • 41:22 We have to use public transit more than individual cars.
  • 41:25 And our industries have to be more efficient.
  • 41:28 And if we do that, it's also good for development
  • 41:30 because it's paying less for energy.
  • 41:32 It's more productivity.
  • 41:33 It's more jobs.
  • 41:34 [MERIEM GRAY] Thank you. Thank you, Stephane.
  • 41:37 Please stand by.
  • 41:39 Now, let's start our journey around the world
  • 41:41 and take a closer look at what the energy transition
  • 41:44 looks like in three very different countries.
  • 41:52 [Upbeat Music]
  • 41:53 [CLIMATE JOURNEY, INDIA]
  • 41:55 [NEW DELHI 28.6139°N, 77.2090°E]
  • 41:58 [CARS HONKING]
  • 42:01 [CARS MOVING]
  • 42:02 [YAMINI AIYAR, PRESIDENT & CHIEF EXECUTIVE, CENTRE FOR POLICY RESEARCH]
  • 42:05 India is rapidly urbanizing.
  • 42:08 Urban India is at the heart of a growing India,
  • 42:11 but this throws up very important questions
  • 42:13 about the kind of energy choices we are making.
  • 42:16 There are crucial decisions that India needs to take
  • 42:19 over this next decade
  • 42:21 that will lock us in-- into energy transition.
  • 42:25 For India to be able to build
  • 42:28 a low carbon industrial revolution, it needs international support.
  • 42:33 And this support is not just technological support,
  • 42:37 but also financial cooperation to enable India to build
  • 42:41 the institutional capacity, the technical capacity
  • 42:45 and the public support for the transitions it needs to take.
  • 42:49 [Upbeat Music]
  • 42:51 We are standing here today, right in front of a metro station.
  • 42:54 This metro station is largely supported through renewable energy.
  • 42:59 So it's about the kind of energy that you are deploying.
  • 43:02 But it's also about how the transportation systems
  • 43:06 are located in ways that ensure that the bulk of people use them.
  • 43:10 So we exit our cars and enter the public transportation system.
  • 43:15 [Upbeat Music]
  • 43:19 Climate change is a huge challenge,
  • 43:21 but it is also a significant opportunity
  • 43:25 to rethink what it means to build an economic growth trajectory
  • 43:30 that is sustainable, that is long term,
  • 43:32 that is inclusive.
  • 43:33 This is a domestic challenge and a global challenge
  • 43:36 and a time for the international community
  • 43:39 to come together.
  • 43:41 [Upbeat Music]
  • 43:53 [CLIMATE JOURNEY, KENYA]
  • 43:55 [KILIFI 3.5107°s, 39.9093°E]
  • 43:57 [Large parts of Kenya are not connected to the national grid]
  • 44:01 [Off-grid renewable energy companies are springing up to fill the gap]
  • 44:06 [John Masha Ngowa used to live without electricity]
  • 44:12 [JOHN MASHA NGOWA]
  • 44:13 I am a barber and I have a shop in my home area, Tezo
  • 44:19 [DOOR OPENING]
  • 44:21 The advert showed there was solar lighting
  • 44:25 I opted to pick it since we didn't have an electricity connection
  • 44:28 in our home and shop.
  • 44:30 [As part of his energy package, John's provider gave him a free razor]
  • 44:35 They have a good shaving machine that I am able to use
  • 44:37 hence I settled on the solar energy.
  • 44:41 [RADIO MUSIC PLAYING]
  • 44:46 [RAZOR TURNING ON]
  • 44:49 I have used solar energy to charge the shaving machine
  • 44:56 It has helped me get the machine and get a job
  • 45:02 [RAZOR SHAVING]
  • 45:04 It has made work easy.
  • 45:06 First, I used to take up a lot of time shaving
  • 45:09 and my clients would sometimes get injured
  • 45:11 and the end cut wouldn't look as good.
  • 45:14 [BIRDS FLYING]
  • 45:16 It has also helped me increase my hours of operation
  • 45:21 since I am able to work till late into the night.
  • 45:33 [CLIMATE JOURNEY, POLAND]
  • 45:35 [KONIN 52.2230°N, 18.2511°N]
  • 45:36 [The future of workers at Poland's oldest brown-coal-fired plant is uncertain.]
  • 45:41 [As part of the green transition, its coal fired units will be decommissioned or converted.]
  • 45:45 [Workers and local communities hope it will be just and provide new opportunities.]
  • 45:50 [ALICJA MESSERSZMIDT, PRESIDENT, KEDRA PAK KWB KNIN MINE TRADE UNION]
  • 45:51 Energy transition will affect the lignite industry,
  • 45:56 particularly employees of the ZE PAK Group,
  • 46:01 which employs 4000 people.
  • 46:05 For the transition to be just and effective,
  • 46:09 we need to ensure employment for workers.
  • 46:12 Creating new jobs, reskilling.
  • 46:17 [ALICJA MESSERSZMIDT, PRESIDENT KEDRA PAK KWB KNIN MINE TRADE UNION]
  • 46:22 [Upbeat Music]
  • 46:25 A date of exiting coal should be announced
  • 46:31 as well as the costs of the transition
  • 46:36 for the local community provided.
  • 46:42 [PEOPLE TALKING]
  • 46:45 Co-operation with local governments, trade unions, employers,
  • 46:51 and the local community is hugely important.
  • 46:58 [WOMAN] We are reminded of the importance
  • 47:00 that this process is what we called just.
  • 47:03 [ALICJA MESSERSZMIDT]
  • 47:04 We see that the climate is changing global warming is getting worse.
  • 47:09 We need to do everything to ensure that we live
  • 47:13 in a clean and calm environment.
  • 47:17 As a Polish person, I call on the world:
  • 47:20 let us take care of the planet, but also take care of the people.
  • 47:24 Then the transition will be efficient,
  • 47:27 just, and most importantly, it will have a human face.
  • 47:31 [GUITAR STRUM]
  • 47:35 [ANNUAL MEETINGS 2021, WASHINGTON DC]
  • 47:38 [MERIEM GRAY] Indeed, a message from Poland to the world
  • 47:42 is that this transition is about bringing people
  • 47:45 and communities alone,
  • 47:46 and we will be continuing our journey
  • 47:48 to Jordan, Niger, Uganda in just a few moments.
  • 47:51 If you have just joined us, I'm Meriem Gray,
  • 47:54 and we are discussing how to-- we can make climate action count.
  • 47:58 Remember, you can share your thoughts at any point
  • 48:01 using #VOICESFORCLIMATE.
  • 48:05 Our senior climate change adviser, Stephane Hallegatte joins me again.
  • 48:09 Stephane, obviously, energy is a critical part of it,
  • 48:13 but that's not the only system which requires transformation.
  • 48:16 So what else is mission critical?
  • 48:17 [STEPHANE HALLEGATTE] So it might sound a bit obvious,
  • 48:20 but to bring emissions to zero, we need
  • 48:22 all sorts of emissions to go to zero.
  • 48:24 So energy is really important,
  • 48:25 but another one that's really critical is food and land use.
  • 48:28 And this is really important
  • 48:30 because a lot of people in poverty are farmers.
  • 48:33 But also because the world population is growing
  • 48:36 and we need to provide foods to this population.
  • 48:38 And this food needs to be good and nutritious, but also affordable.
  • 48:41 A lot of poor people are spending more than half of their income on food,
  • 48:45 so they are very sensitive to increase in food prices.
  • 48:48 But we have to do that
  • 48:50 while preserving forests and ecosystem.
  • 48:53 We want to preserve them
  • 48:55 because we want to protect biodiversity
  • 48:57 because they are some of the most beautiful places on Earth,
  • 49:00 but also because those ecosystems take carbon out of the atmosphere
  • 49:04 and help us meet our goals in terms of climate change.
  • 49:07 [MERIEM GRAY] So...
  • 49:08 let's take a look at the data again.
  • 49:12 So, here we have a graph that we saw earlier,
  • 49:15 showing how energy contributes to global emissions.
  • 49:18 Now, let's add a line for agriculture.
  • 49:21 Look at this.
  • 49:23 It's almost as much as manufacturing.
  • 49:26 And also let's add a line to show the contribution of land use.
  • 49:29 [FOOD, LAND USE & CLIMATE CHANGE, GREENHOUSE GAS EMISSIONS BY SECTOR]
  • 49:32 So, Stephane, if you look at this,
  • 49:35 what can be done to reduce
  • 49:36 these emissions from food and land use?
  • 49:39 [STEPHANE HALLEGATTE] So first,
  • 49:40 you really have to look at those two lines together
  • 49:42 because those problems are very closely connected.
  • 49:45 And again, there will be no magical solution.
  • 49:47 But we know what needs to happen.
  • 49:49 And the first thing that needs to happen
  • 49:51 is that we need to protect the forest and ecosystem,
  • 49:54 as I said.
  • 49:56 And if possible, also let them regrow,
  • 49:58 because that is capturing carbon from the atmosphere.
  • 50:01 But if we do only that, the risk is to increase with prices.
  • 50:05 And so, in parallel, the second thing
  • 50:07 we have to do is to increase agricultural productivity
  • 50:10 and to do that, we need to change agricultural practices
  • 50:13 to make them more efficient and more sustainable.
  • 50:15 For instance, we have to grow the right crops,
  • 50:18 in the right places, in the right climate,
  • 50:19 and we have to use entrance, and water in a very efficient way,
  • 50:23 adapted to the local conditions.
  • 50:25 [MERIEM GRAY] So what you're saying
  • 50:27 is that we need a combination of more productive agriculture
  • 50:30 and protecting ecosystems that can help us deal
  • 50:33 with food security issues
  • 50:35 and biodiversity and climate protection.
  • 50:37 [STEPHANE HALLEGATTE] Yes, and like always,
  • 50:40 efficiency will be critical.
  • 50:42 So the third thing is not to waste food.
  • 50:45 We have all been told as kids that we should not waste food.
  • 50:48 It's true, but it's also true to protect the climate.
  • 50:50 And today we're really losing too much of the food we produce.
  • 50:53 The fourth thing we need to do is to use
  • 50:55 water very carefully and also to protect the ecosystems
  • 50:59 that are contributing to maintaining the quality
  • 51:01 of that water that we consume.
  • 51:03 And the last thing, the fifth thing and it's again a good news
  • 51:07 is healthier diets can not only make us live longer and healthier
  • 51:11 but also reduce the impact of agriculture on the climate.
  • 51:15 So it's those LCO diets are also good for the environment.
  • 51:18 [MERIEM GRAY] Thank you Stephane, please stand by.
  • 51:21 Let's go back to our journey around the world.
  • 51:24 This time we asked three people to share
  • 51:27 their solutions for agriculture, land use and water.
  • 51:35 [Upbeat Music]
  • 51:37 [CLIMATE JOURNEY, JORDAN]
  • 51:38 [AMMAN 31.9539°N, 35.9106°E]
  • 51:42 [SAMER JUDEH, CHAIRMAN, JORDAN WIND PROJECT COMPANY]
  • 51:44 Our beautiful country is very rich in many resources.
  • 51:49 But Jordan is ranked as the second or third poorest country
  • 51:54 in terms of border resources.
  • 51:56 [SAMER JUDEH, CHAIRMAN, JORDAN WIND PROJECT COMPANY]
  • 52:01 [WATER POURING]
  • 52:03 We have enough water for two million people
  • 52:05 but currently the population is in excess of ten million.
  • 52:10 In terms of climate change, Jordan used to receive
  • 52:13 about five to eight billion cubic meters of rainfall,
  • 52:17 but we currently receive about three billion.
  • 52:20 And as a result of high temperature is 90% of that water evaporates.
  • 52:25 The most important example of this is the beautiful Dead Sea,
  • 52:30 the level of water is shrinking by about half a meter per year.
  • 52:35 There are a lot of solutions that the government
  • 52:37 is currently working on.
  • 52:39 Jordan is a real success story when it comes to renewables.
  • 52:43 Ten years ago, several kilowatts of renewable energy were produced.
  • 52:48 Today, we are talking about in excess 3000 megawatts
  • 52:52 from solar and wind that provides clean, green and cheap energy.
  • 52:59 You can use renewables to reduce the CO2 emissions
  • 53:03 and to reduce the cost of piping and pumping water projects.
  • 53:08 I think we're on the right track and my hopes
  • 53:10 are that we move in high gear
  • 53:13 and we move very quickly on implementing water solutions.
  • 53:18 [WATER RUNNING]
  • 53:25 [CLIMATE JOURNEY, NIGER]
  • 53:26 [NIAMEY 13.5116°N, 2.1254°E]
  • 53:27 [INOUSSA DAMBAGI, NATIONAL COORDINATOR, COMMUNITY ACTION PROJECT FOR CLIMATE RESILIENCE PACRC]
  • 53:31 We are witnessing repeated flooding
  • 53:34 So in India repetitive effective.
  • 53:37 [GRINDING SEEDS]
  • 53:40 [CHILD TALKING]
  • 53:42 [WATER RUNNING, WIND BLOWING]
  • 53:44 There is also a proliferation of climate-induced disease.
  • 53:50 We are seeing cases of cholera,
  • 53:53 cases of meningitis that are coming back.
  • 53:56 Currently, there are many hazards that affect
  • 54:00 both, communities and their ability to produce food.
  • 54:05 [INOUSSA DAMBAGI, NATIONAL COORDINATOR, COMMUNITY ACTION PROJECT FOR CLIMATE RESILIENCE PACRC]
  • 54:10 [PEOPLE SHOVELING]
  • 54:14 [PACRC]
  • 54:15 [Helps the Niger government build resilience
  • 54:17 to climate change in rural communities.]
  • 54:23 [ZAÏ] [These planting pits help retain water and allow local farmers to sow crops in bare lands.]
  • 54:26 We have improved the resilience
  • 54:29 of agro-sylvo-pastoral systems.
  • 54:32 We have used a combination of measures for sustainable land and water management.
  • 54:38 These actions have helped to increase productivity and increase incomes,
  • 54:44 food security, agricultural inputs and livestock feed.
  • 54:50 Then there is the replenishment of stocks from local markets,
  • 54:55 to energy, to basic necessities,
  • 55:00 which are manufactured locally.
  • 55:03 We need to see a scaling up of the successes
  • 55:10 and the new avenues opened up by this project.
  • 55:25 [Upbeat Music]
  • 55:27 [CLIMATE JOURNEY, UGANDA]
  • 55:28 [KYEGEGWA, 0.4818°N, 31.0550°E]
  • 55:33 [ANNET NAKIDDE, AGRICULTURAL ENGINEER]
  • 55:35 Ever since I started to work, we've been having a challenge of droughts
  • 55:40 Ninety nine percent of the farmers in Kyegegwa, they depend on agriculture.
  • 55:45 Climate changes impacted on them.
  • 55:48 [ANNET NAKIDDE, AGRICULTURAL ENGINEER]
  • 55:53 [Annet promotes farmer-led irrigation.]
  • 55:57 [It helps them adapt to droughts & unpredictable rainy seasons.]
  • 56:05 The farmer makes the decision on what he wants.
  • 56:10 These are essential farmers.
  • 56:12 These are farmers who will need irrigation.
  • 56:14 We want to shift from subsistence to commercial.
  • 56:17 It is really looking at the farmer who has been struggling,
  • 56:22 And if the government just push a little,
  • 56:25 this farmer can be somewhere.
  • 56:28 [Upbeat Music]
  • 56:32 So we set up this demonstration garden
  • 56:34 to show farmers different technologies.
  • 56:37 [Upbeat Music]
  • 56:40 So a farmer would move from sprinkler to drip.
  • 56:43 And he sees how the irrigation technology is.
  • 56:46 Then it goes to drag hose.
  • 56:48 So then the farmer knows what he wants.
  • 56:50 [Upbeat Music]
  • 56:55 But we faced a challenge.
  • 56:57 We were hit by a huge storm.
  • 57:00 We are trying to plan again, how we can come up again.
  • 57:03 [Upbeat Music]
  • 57:07 But we are not going to give up.
  • 57:08 We are going to support, we are going to move together
  • 57:12 and we make sure that our farmers come and learn.
  • 57:16 [Upbeat Music]
  • 57:18 Some had lost hope.
  • 57:19 But now they are gaining back with the project.
  • 57:24 [Upbeat Music]
  • 57:32 [WOMAN] Hello, xin chào.
  • 57:34 I'm here in Hanoi, Vietnam, and you're watching
  • 57:37 the World Bank Group-IMF Annual Meetings.
  • 57:42 [MERIEM GRAY] In this last video, Annet Nakidde
  • 57:45 makes a great point about water scarcity.
  • 57:47 This is a sector that is particularly prone
  • 57:50 to climate change impacts.
  • 57:52 Stephane, let's talk about how communities
  • 57:55 can strengthen their resilience.
  • 57:57 [STEPHANE HALLEGATTE] So all communities,
  • 57:59 all countries will be affected by climate change.
  • 58:01 And we already see some of those impacts,
  • 58:03 so they all need to be better prepared.
  • 58:05 What do we need to do? So the first thing,
  • 58:08 as we discussed before,
  • 58:09 poverty is a big driver of vulnerability.
  • 58:12 So reducing poverty, taking people out of extreme poverty
  • 58:15 is really a big priority, but it won't be enough.
  • 58:18 We also need to do more.
  • 58:19 So the second thing is to help people and firms adapt
  • 58:23 because people and firms they want to adapt.
  • 58:26 Nobody likes to be flooded or to lose income,
  • 58:29 but they face obstacles.
  • 58:30 Sometimes they lack the information,
  • 58:32 sometimes technologies,
  • 58:34 sometimes they don't have access to financing.
  • 58:36 We have to tackle those obstacles to let people and firms adapt.
  • 58:39 And because we have to acknowledge
  • 58:41 that there will always be disasters, there will always be impact.
  • 58:45 We have also to provide people and firms
  • 58:48 tools to recover when they are affected.
  • 58:50 So it will be adaptive social protection
  • 58:52 to help populations or like insurance
  • 58:55 or access to borrowing for firms.
  • 58:57 The third thing is a responsibility of governments,
  • 59:01 including local governments,
  • 59:03 and it's our infrastructure, our cities,
  • 59:05 the way we use land.
  • 59:07 Today, we have no excuse.
  • 59:09 We should not build any building
  • 59:11 or any piece of infrastructure
  • 59:13 that is not adapted to the climate and risk of today,
  • 59:15 but also the climate and the risk of tomorrow.
  • 59:18 So this is a really important part of the equation.
  • 59:20 And finally, the fourth point is
  • 59:23 to tackle the macro economic impact
  • 59:25 of those climate change consequences.
  • 59:29 Governments can do a lot, for instance,
  • 59:31 by diversifying their economy.
  • 59:33 Also diversifying the tax base so that when there is a shock,
  • 59:37 they have the resources to cope and recover.
  • 59:40 [MERIEM GRAY] Right? Absolutely.
  • 59:41 In fact, our next guest actually spoke about adaptation
  • 59:45 and shared his hope for what he would like to see on this front.
  • 59:48 Let's take a listen.
  • 59:53 [PROFESSOR SALEEMUL HUQ] The recent 6th Assessment Report
  • 59:55 Working Group I
  • 59:56 of the Intergovernmental Panel on Climate Change
  • 59:58 has very clearly stated that we have now entered unequivocally
  • 0:02 into a climate changed world
  • 0:04 because of the temperature increase
  • 0:06 over one degree centigrade
  • 0:08 compared to preindustrial times.
  • 0:10 Therefore, we have now entered
  • 0:12 the era of loss and damage from climate change.
  • 0:15 What we want to see from our leaders going up to COP26,
  • 0:19 and every single day, not just once a year,
  • 0:22 is actions commensurated
  • 0:24 with the crisis and emergency we are in.
  • 0:27 There is nowhere near enough action
  • 0:29 at the scale that is required.
  • 0:31 All our leaders need to take it seriously,
  • 0:34 need to take actions immediately,
  • 0:36 and not just the political leaders,
  • 0:38 but leaders of companies,
  • 0:40 leaders of cities, towns, villages,
  • 0:42 and every single citizen on the planet
  • 0:44 now needs to take climate change seriously,
  • 0:47 as the emergency that it is.
  • 0:50 And now we need action every single day,
  • 0:53 everywhere in the world, from everyone.
  • 1:06 [MERIEM GRAY] That's a great message
  • 1:07 from Salim Hack,
  • 1:08 and it really begs the question,
  • 1:10 how can countries afford to do all this?
  • 1:13 Many of these investments, after all,
  • 1:15 need to happen in countries
  • 1:17 which are among the world's poorest
  • 1:18 and certainly all countries have been affected by COVID-19.
  • 1:22 So how these transitions are going
  • 1:24 to be financed, Stephane?
  • 1:26 [STEPHANE HALLEGATTE] So those investments
  • 1:28 over the long term, they will pay for themselves.
  • 1:30 When we spend $1 in the resilience of infrastructure,
  • 1:34 we avoid $4 in losses later on.
  • 1:37 When you pay for a solar panel,
  • 1:38 you don't have to pay for the fuel.
  • 1:40 So over the long run,
  • 1:42 it might be easy.
  • 1:44 But the problem is, of course,
  • 1:45 that you have to invest to start with.
  • 1:47 And this upfront costs, very high upfront cost,
  • 1:50 is really the challenge we have.
  • 1:52 So this is, before everything, a financing challenge.
  • 1:56 And yes, we're talking about trillions.
  • 1:58 So it's impressive,
  • 2:00 but we have to keep in mind, we're already investing
  • 2:02 trillions of dollars every year.
  • 2:03 So the question is not so much investing more.
  • 2:06 It's making sure we invest better.
  • 2:08 That we invest in projects
  • 2:09 which are not only good projects and profitable projects,
  • 2:12 but also projects that are resilient
  • 2:14 and sustainable. This is a challenge.
  • 2:16 [MERIEM GRAY] How are we going to make it happen?
  • 2:18 [STEPHANE HALLEGATTE] So the first thing
  • 2:19 is the set of policies,
  • 2:21 prices, regulations that you have in an economy.
  • 2:25 So we've been discussing
  • 2:26 about the regulation of the financial sector, for instance.
  • 2:29 We have been discussing about fossil fuel subsidies
  • 2:32 and how they bring investments into fossil fuels.
  • 2:35 All of those signals need to change
  • 2:37 to make sure all investments,
  • 2:40 domestic and international,
  • 2:41 public and private,
  • 2:43 are going to the right projects,
  • 2:45 which are projects driving us toward net zero.
  • 2:48 And the longterm signal
  • 2:50 when countries commit to achieve net zero
  • 2:52 in 2050 or 2060 are also very important
  • 2:55 because they help drive and redo investments
  • 2:57 and other investments.
  • 2:58 But this won't be enough.
  • 3:00 For poor countries, especially affected by COVID,
  • 3:03 they will need help.
  • 3:05 And climate finance,
  • 3:06 the resources that rich countries
  • 3:08 can bring to help them
  • 3:09 will play a critical role to pay that upfront costs.
  • 3:12 And there are also specific instruments.
  • 3:14 For instance, green technologies
  • 3:16 tend to be considered more risky
  • 3:18 than traditional ones.
  • 3:20 So we can create specific instruments
  • 3:22 with guarantees or other de-risking tools
  • 3:25 to attract the private sector,
  • 3:26 and make sure they also invest in those technologies.
  • 3:29 And finally, public finance will play a key role.
  • 3:31 And that's especially for the most basic infrastructure,
  • 3:34 and also to help the poorest communities,
  • 3:37 which will always struggle to attract private investors.
  • 3:40 [MERIEM GRAY] Right. So we actually asked Alan Jope,
  • 3:43 the CEO of Unilever,
  • 3:45 and Chris Sacca,
  • 3:46 founder and chairman of Lowercarbon Capital,
  • 3:49 for their thoughts on how the private sector sees
  • 3:52 the climate challenge.
  • 3:57 [ALAN JOPE] Good afternoon,
  • 3:58 and thank you for the opportunity to speak
  • 4:01 about the role of the private sector
  • 4:03 in turning ambition into reality.
  • 4:06 Climate change in its impacts matter to business.
  • 4:10 In addition to the tragic human and social costs,
  • 4:14 we are seeing all over the world how systemic shocks
  • 4:16 are disrupting value chains
  • 4:18 and acting as a downward pressure on global growth.
  • 4:22 Yet here we are still careering towards
  • 4:25 a world that is three degrees warmer.
  • 4:28 So looking to COP26 and beyond,
  • 4:31 the world must deliver a global response
  • 4:33 that matches the scale of the climate challenge.
  • 4:37 Of course, governments must commit
  • 4:39 to credible national plans
  • 4:40 that keep the Paris agreements,
  • 4:42 1.5°C limit within reach.
  • 4:45 And business must also do our part
  • 4:48 to deliver that ambition.
  • 4:50 At Unilever,
  • 4:51 successful climate action starts
  • 4:53 with getting our own house in order.
  • 4:55 For example, our operations around the world
  • 4:58 are now powered by 100% renewable grid electricity,
  • 5:02 and our CO2 emissions are down
  • 5:04 by 75% per ton of production
  • 5:07 versus our 2008 baseline.
  • 5:09 We're also investing in natural climate solutions
  • 5:12 to address both the climate and nature emergencies together.
  • 5:17 In fact, we're finding that delivering our climate goals
  • 5:20 also lowers operational costs
  • 5:23 and increases the resilience of our value chain.
  • 5:26 But no business can tackle climate change alone.
  • 5:29 And most emissions in a value chain
  • 5:32 usually come from outside a company's direct operations.
  • 5:36 And that's why during New York Climate Week,
  • 5:38 we launched the Unilever Climate Promise.
  • 5:41 That's an invitation to our suppliers
  • 5:44 to join us in delivering
  • 5:46 our ambitious climate transition action plan goals.
  • 5:50 And through such value chain and sectoral approaches,
  • 5:54 we believe that we can scale the private sectors actions
  • 5:57 for more impact.
  • 5:59 The business case for climate action is clear,
  • 6:02 and the role of the private sector
  • 6:04 in the low carbon transition
  • 6:06 is going to be crucial.
  • 6:08 And on that note,
  • 6:09 thank you again for letting me share my thoughts
  • 6:11 on this very important topic.
  • 6:18 [CHRIS SACCA] I'm Chris Sacca,
  • 6:19 founder of Lowercarbon Capital.
  • 6:20 We're one of the world's most active backers
  • 6:22 of companies and organizations
  • 6:24 working to solve the climate crisis.
  • 6:25 And I'm here with some good news: it's gonna work.
  • 6:28 The global economy will be decarbonized.
  • 6:31 Why? Well, I mean, it's selfinterest.
  • 6:33 Compare traditional energy source,
  • 6:35 digging up in burning old dinosaur bones,
  • 6:37 to these days when it's just plain cheaper and safer
  • 6:40 to power our economy with the sun.
  • 6:42 And we're seeing this play out
  • 6:43 across energy, agriculture and transport.
  • 6:46 I mean, you name it.
  • 6:47 But just getting to zero emissions is not enough.
  • 6:50 The latest IPCC report is clear.
  • 6:53 We also need to suck carbon pollution
  • 6:55 back out of the atmosphere.
  • 6:56 That's gonna take a lot of time and money,
  • 6:58 and it's a great space for government to be helpful.
  • 7:00 Because overall, we don't get to choose one or the other.
  • 7:03 We have to both reduce emissions and capture carbon.
  • 7:07 And if we do, Earth will come back into balance.
  • 7:10 But here's the problem.
  • 7:11 None of that can possibly happen big enough and fast enough
  • 7:14 to avoid disaster.
  • 7:16 Now, look, I'm a professional optimist,
  • 7:18 but anyone who's telling you we can get all this done
  • 7:21 by 2030 is just out of touch with reality.
  • 7:23 So we need to buy the planet some time.
  • 7:26 How?
  • 7:27 Well, there's some science we can all fund today,
  • 7:30 and cheaply and quickly,
  • 7:31 that'll have a massive impact.
  • 7:33 And that science is sunlight reflection.
  • 7:36 And it's really our only shot of staving off tragedy
  • 7:38 until the clean economy and carbon removal can catch up.
  • 7:42 Because hanging in the balance are the lives
  • 7:44 of hundreds of millions of the world's most vulnerable people.
  • 7:48 Now, many of us here are able
  • 7:49 to escape the drought and the famine
  • 7:52 and the war that result from the climate crisis.
  • 7:54 And that is the ultimate privilege.
  • 7:56 But with that privilege comes the moral responsibility
  • 7:59 for all of us to help others who aren't as lucky.
  • 8:02 Yes, we must keep reducing emissions
  • 8:05 and pulling carbon out of the sky. That'll work.
  • 8:07 But in the meantime,
  • 8:08 sunlight reflection research can save millions of lives.
  • 8:11 And let's start by backing the scientists
  • 8:14 based in the countries where the local people are most at risk.
  • 8:17 We owe it to them.
  • 8:20 And we owe it to each other.
  • 8:32 [MERIEM GRAY] We've already heard from Vietnam, India,
  • 8:34 Kenya, Poland, Nicer, Uganda and Jordan.
  • 8:38 Last we are taking you to Brazil and Cameron.
  • 8:55 [ROSANE SANTOS] In Brazil, we see that issues like
  • 8:57 scarcity of drinking water,
  • 8:59 unprecedented floods and droughts,
  • 9:01 rising sea levels and food insecurity are increasing.
  • 9:05 In northeastern Brazil,
  • 9:07 arid and semiarid areas are already impacted
  • 9:10 and will suffer or even more
  • 9:12 with the reduction of water resources available
  • 9:15 for daily activities.
  • 9:23 What is critical for us to succeed in this challenge
  • 9:26 is to understand that it affects all of us.
  • 9:29 The solution also needs to be collective.
  • 9:32 Companies, governments and civil society in general
  • 9:35 must understand the need
  • 9:37 to be more serious about climate change
  • 9:40 as our existence depends on it.
  • 9:47 We need to work together as a team
  • 9:50 to raise awareness and have a successful climate action.
  • 9:59 One of the paths we need to accelerate is
  • 10:02 putting climate change at the forefront
  • 10:04 for the business agenda.
  • 10:07 In the case of the sanitation companies,
  • 10:09 it is crucial that, they together with other industries,
  • 10:12 understand the importance of climate change
  • 10:15 and water scarcity.
  • 10:19 We must understand the connection
  • 10:20 between business and nature and by extension,
  • 10:23 between sustainable development
  • 10:25 and environmental preservation
  • 10:29 and how a low carbon economy
  • 10:31 can still generate wealth, security and prosperity for all.
  • 10:49 [ARMELLE SIDJE TAMO] In 2013, we want to see
  • 10:52 45% of reduction of greenhouse gases,
  • 10:56 and also the reduction of global warming by 1.5°C.
  • 11:00 To reach those goals,
  • 11:02 the first thing is to have a better collaboration
  • 11:05 between the different limit actions.
  • 11:07 You know, alone, we can go really quickly,
  • 11:11 but together we can go really fast.
  • 11:14 The second thing is to promote protection and actions.
  • 11:18 For example, [inaudible] people
  • 11:20 in their today climate actions
  • 11:24 on their children tomorrow life.
  • 11:27 We should encourage and invest
  • 11:30 in circular economy, which is really important,
  • 11:32 and also in sustainable solution. in circular economy, which is really important,
  • 11:32 and also in sustainable solution.
  • 11:35 For example, here in Cameroon,
  • 11:36 we have a great solution that promote banana production
  • 11:40 which stems into biodegrable packaging.
  • 11:43 You know, this kind of suitable limit actions
  • 11:48 will reduce deforestation and, on our way,
  • 11:52 empowering [inaudible]
  • 11:54 Thank you.
  • 12:06 [MERIEM GRAY] Really exciting to see so much potential
  • 12:08 to drive a new climate economy.
  • 12:11 Turning our attention back
  • 12:13 to the big climate moment that is coming up in two weeks,
  • 12:16 we asked Alok Sharma, the COP26 President,
  • 12:20 for his vision for success
  • 12:22 and what he would like to see happen.
  • 12:28 [ALOK SHARMA] In a matter of days,
  • 12:29 the word will meet in Glasgow for COP26
  • 12:32 This will be the most important
  • 12:34 UN Climate Conference has been for years.
  • 12:37 And the reason it is so important
  • 12:39 is that time is running out
  • 12:41 to limit the rise in global temperatures to 1.5°C,
  • 12:44 as the world committed to do in the Paris agreement,
  • 12:47 which said we would limit temperature rises
  • 12:50 to well below 2°C,
  • 12:51 aiming for 1.5°C.
  • 12:54 Delivery of this goal requires finance.
  • 12:57 So a key focus of the UK's COP26
  • 13:00 is to get public and private finance
  • 13:02 flowing to climate action.
  • 13:04 And absolutely there has been some progress.
  • 13:07 Every major MDB is now committed
  • 13:09 to putting between 30 and 50% of their lending
  • 13:13 towards climate projects.
  • 13:14 And we are seeing increase in adaptation finance too.
  • 13:19 With World Bank and the African Development Bank
  • 13:22 committing to a balance
  • 13:23 between adaptation and mitigation lending.
  • 13:26 Development banks are coming up with new ways
  • 13:29 of retiring and replacing coal, ensuring a just transition.
  • 13:34 Almost every MDB has committed
  • 13:36 to align their financing with the Paris Agreement by 2025
  • 13:40 or indeed earlier, with some already there.
  • 13:43 And the IMF's historic SDR allocation
  • 13:45 has given countries more funds
  • 13:48 to support green recoveries worldwide.
  • 13:50 As I said, we have seen progress,
  • 13:54 but there is much further to go,
  • 13:57 particularly in using public funds
  • 13:59 to mobilize private finance
  • 14:01 at greater scale than ever before.
  • 14:04 This, my friends, is urgent.
  • 14:06 So I ask all MDB, governments
  • 14:09 and private institutions here today
  • 14:11 to come to COP26 with a plan of action to invest more,
  • 14:15 to mobilize more and to finance more
  • 14:18 in order to deliver the critical action
  • 14:20 that we need in this decisive decade for climate.
  • 14:23 Thank you.
  • 14:36 [MERIEM GRAY] A big thank you to Alok Sharma
  • 14:38 for the look ahead.
  • 14:39 And if you want to learn more
  • 14:41 about the WorldBank Group's work
  • 14:43 on climate in the run up of COP26, about the WorldBank Group's work
  • 14:43 on climate in the run up of COP26,
  • 14:45 take a look at the resources section on World Bank Live site.
  • 14:50 I'm joined again by my colleague Sri Sridhar.
  • 14:54 Hi, Sri. So you've been looking and
  • 14:56 monitoring social media.
  • 14:58 So what this stood out for you?
  • 15:00 [SRI SRIDHAR] Thanks, Maria. Yes.
  • 15:01 So today people have been using the hashtag #voices4climate
  • 15:04 and they've been commenting from all over the world,
  • 15:06 including Venezuela, Saudi Arabia.
  • 15:09 India, the United Kingdom,
  • 15:11 Mexico, Uganda, Jordan, Germany and also the United States.
  • 15:15 But what are they talking about?
  • 15:16 So they're talking about how climate impacts
  • 15:19 are already happening where they live.
  • 15:20 But they're also talking about possible solutions.
  • 15:23 And have projects to lower carbon emissions,
  • 15:26 and also come climate change. And have projects to lower carbon emissions,
  • 15:26 and also come climate change.
  • 15:27 Now we've also been monitoring
  • 15:29 the conversation across
  • 15:30 our different social media platforms.
  • 15:32 So let me give you a flavor
  • 15:33 of what people are saying there on LinkedIn.
  • 15:35 We have Scott Andrew Campbell, who says
  • 15:37 that he believes climate action
  • 15:39 is the most important approach
  • 15:41 for creating a resilient recovery
  • 15:43 and that failure to act will only increase the severity
  • 15:46 of extreme weather systems,
  • 15:47 which cost billions in relief aid
  • 15:49 that could be spent making people's lives better.
  • 15:53 On Facebook.
  • 15:54 Rasopilo says that the climate crisis in Madagascar
  • 15:57 is mostly the effect of bush fires,
  • 16:00 and that the only solution
  • 16:01 is sustainable agriculture and reforestation.
  • 16:04 Finally, to round things out on Instagram,
  • 16:07 Stacy Mwende says that greenhouse gas emissions
  • 16:10 will start to go down anytime industries start to take action.
  • 16:15 And I think her comment here
  • 16:16 is really a great segway
  • 16:18 into talking about our quiz today, right?
  • 16:20 [MERIEM GRAY] I feel like we need
  • 16:21 a little bit of a drum bit here.
  • 16:23 Yes, I believe you do have results. Right?
  • 16:26 [SRI SRIDHAR] I do. So let me tell you about the quiz.
  • 16:27 We had 4072 people take today's quiz
  • 16:31 and we asked, when do you think emissions will start to go down?
  • 16:34 Now the options where have they already started to go down?
  • 16:37 will they go down in 2030, in 2050,
  • 16:40 or will they never go down now?
  • 16:42 Before I reveal the correct answer,
  • 16:44 let's see how people individually voted
  • 16:46 for each one of these options. let's see how people individually voted
  • 16:46 for each one of these options.
  • 16:48 Now, with 22.3% people said
  • 16:51 that they already have started to go down.
  • 16:53 37.4% of folks say that it'll go down in 2030.
  • 16:57 24.1% say 2050,
  • 17:00 and 16.2% of people think that it will never go down.
  • 17:05 Now what is your vote here?
  • 17:07 [MERIEM GRAY] I was going with never.
  • 17:09 - [SRI SRIDHAR] Never. Yeah. - [MERIEM GRAY] But clearly tricky question.
  • 17:12 [SRI SRIDHAR] So the correct answer here is actually
  • 17:14 A, they already have started to go down. [SRI SRIDHAR] So the correct answer here is actually
  • 17:14 A, they already have started to go down.
  • 17:17 And I think it's also important to note
  • 17:20 that this is very reflective of this moment in time.
  • 17:24 - Right. - [MERIEM GRAY] Okay. Alright. Yeah.
  • 17:25 In fact, I think this number is probably reflective
  • 17:30 of this downward trend triggered by COVID lockdowns,
  • 17:34 and the economy is basically struggling.
  • 17:38 But what we need to find really is the way
  • 17:42 to reduce emissions that don't hurt
  • 17:44 communities and people.
  • 17:46 And they're sustainable in the longer term.
  • 17:48 - [SRI SRIDHAR] Absolutely. - [MERIEM GRAY] Well, thank you.
  • 17:51 - Thank you so much, Sri. - [SRI SRIDHAR] Thanks, Maria.
  • 17:54 [MAN] As-Salamu-Alaykum.
  • 17:55 I'm [inaudible] from Islamabad, Pakistan,
  • 17:57 and you're watching the World Bank-IMF Annual Meetings.
  • 18:06 [WOMAN] Hello, I'm [inaudible] in Markham, Papua New Guinea,
  • 18:10 and you're watching the World Bank-IMF Annual Meetings.
  • 18:17 [MERIEM GRAY] Okay. Now to answer some of the questions
  • 18:19 we've been asking,
  • 18:20 I'm pleased to welcome Axel Van Trotsenburg,
  • 18:23 World Bank managing director for operations
  • 18:26 and our senior advisor Stephane Hallegatte.
  • 18:29 He's a senior advisor with our climate change group.
  • 18:32 So, Axel, my first question to you. Earlier we spoke,
  • 18:35 you mentioned that climate and development being connected
  • 18:39 and how climate change and development reports
  • 18:41 are basically forthcoming.
  • 18:43 But the Bank has been connecting these dots
  • 18:45 for a very long time.
  • 18:46 So how has this been working out in practice?
  • 18:50 Well, in practice is that we translate
  • 18:53 that into our country programs.
  • 18:55 And they have to be really tailor made that into our country programs.
  • 18:55 And they have to be really tailor made
  • 18:58 to individual country situations.
  • 19:01 In the aggregate, to keep that in mind,
  • 19:03 we have been scaling up our climate financing
  • 19:06 for the last five years over about $83 billion.
  • 19:10 We want to go 50% higher in the next five years.
  • 19:14 And that translates in challenges,
  • 19:17 whether you are in a middle income country
  • 19:20 or a low income country.
  • 19:21 Take Africa.
  • 19:22 Africa is not producing in a major way
  • 19:26 greenhouse gas emissions.
  • 19:28 They're only responsible for less than 4%
  • 19:31 of world emissions, yet they are disproportionately affected.
  • 19:34 Look at the Sahel zone.
  • 19:36 So you need to have tailormade solutions
  • 19:39 for people living in the Sahel zone or in urban areas.
  • 19:43 In those are areas, there's this urbanization
  • 19:47 with massive emissions.
  • 19:50 What can we do by having
  • 19:51 more transport smart systems in place?
  • 19:54 So what we are seeing is
  • 19:56 we are translating that in concrete project
  • 19:59 from agriculture to urban, we are translating that in concrete project
  • 19:59 from agriculture to urban,
  • 20:01 but also to policies,
  • 20:03 because sometimes you have the wrong policies.
  • 20:05 Take, for example,
  • 20:07 fuel subsidies that actually promote a lot of fuel use.
  • 20:11 If we can reduce that,
  • 20:13 that may have an also very positive effect.
  • 20:16 So it is the combination of these
  • 20:20 interventions that can make a difference.
  • 20:23 Alone, we cannot do it.
  • 20:25 Climate change is the ultimate goal,
  • 20:27 that this is a global responsibility,
  • 20:29 and only globally we will be able to solve it.
  • 20:33 Therefore, you have also the so called COP26,
  • 20:37 this COP process where you bring the world community together.
  • 20:40 We are one part of it from a multilateral part of it.
  • 20:44 But you need to work with governments.
  • 20:46 You need to work with the private sector.
  • 20:47 You need to work with also multilateral organization,
  • 20:51 and only to guess we can do it.
  • 20:54 [MERIEM GRAY] So my next question for Stephane.
  • 20:57 We have great questions coming from the audience.
  • 21:01 Let's hear from Fotios Kalantzis,
  • 21:04 who send us the video.
  • 21:06 Let's take a listen.
  • 21:07 [FOTIOS KALANTZIS] I'm Fotios Kalantzis, in Luxembourg.
  • 21:09 And my question is, how can we make sure
  • 21:12 that the transformation needed to tackle climate change
  • 21:15 will not lead to increasing inequalities
  • 21:18 within and across countries and sectors?
  • 21:23 [MERIEM GRAY] Over to your, Stephane.
  • 21:24 [STEPHANE HALLEGATTE] This is a really important question,
  • 21:26 but I think we have to start from climate change itself
  • 21:29 and the fact that if we don't act,
  • 21:31 climate change itself will increase inequalities.
  • 21:34 Among countries, we see
  • 21:36 that poor countries are more affected,
  • 21:38 and also within countries, with people in poverty
  • 21:40 being disproportionately affected, too.
  • 21:43 So we have to implement policies
  • 21:44 to correct this impact on inequalities.
  • 21:47 Climate action to reduce emissions
  • 21:50 can reduce inequalities or increase them.
  • 21:53 It's all a question of how they are designed.
  • 21:55 And Axel mentioned the role of fossil fuel subsidies.
  • 21:58 If you increase the price of energy,
  • 22:00 of course, it will hurt people in poverty. If you increase the price of energy,
  • 22:00 of course, it will hurt people in poverty.
  • 22:03 But with all of the resources that you save doing that,
  • 22:06 or the money you collect with carbon pricing,
  • 22:08 you have resources that you can use or the money you collect with carbon pricing,
  • 22:08 you have resources that you can use
  • 22:10 to protect the poorest or make them better off.
  • 22:13 And countries like Indonesia or Jordan have done exactly that.
  • 22:17 They improve the incentives to reduce emissions
  • 22:20 and they helped people in poverty
  • 22:21 so that they reduced inequality.
  • 22:23 So if you design them well, you can do both things at once.
  • 22:27 [MERIEM GRAY] Thank you, Stephane.
  • 22:28 And we actually sent another video question
  • 22:31 from Gabriel Babadi.
  • 22:33 Let's take a look, Axel
  • 22:35 [GABRIEL BABADI] Gabriel Babadi from Chun Chon
  • 22:38 in Republic of Korea.
  • 22:41 And my question is,
  • 22:43 how can this developed countries contribute to climate action?
  • 22:50 [MERIEM GRAY] Well, that's over to Axel.
  • 22:51 [AXEL VAN TROTSENBURG] I think they can, the least develop
  • 22:54 can take action.
  • 22:55 And we'll take action.
  • 22:57 And particularly think of those countries
  • 23:00 that have still not too much electricity.
  • 23:04 Often the electrification rates are very low in this.
  • 23:07 So how can you have a strategy
  • 23:09 that permits more access to electricity,
  • 23:12 but to go more on the renewable side,
  • 23:15 so you can actually have a win-win situation,
  • 23:19 where you actually look at a more renewable strategy
  • 23:22 and have also access to electricity.
  • 23:25 That's, for example, one example.
  • 23:27 The other thing is, I mentioned this early,
  • 23:29 is the desertification.
  • 23:31 Maybe one has a possibility
  • 23:34 to community driven development programs,
  • 23:38 particularly involved in women.
  • 23:39 And so, how you could actually design projects
  • 23:44 that are allowing for sustainable agriculture,
  • 23:47 but also protecting forests there? that are allowing for sustainable agriculture,
  • 23:47 but also protecting forests there?
  • 23:50 So you need there to design
  • 23:52 and where people in the communities
  • 23:55 can contribute directly to climate.
  • 23:58 That's another important lesson.
  • 24:00 We need to involve communities.
  • 24:02 We need to call everybody involved.
  • 24:04 It cannot just be just a government or one actor.
  • 24:09 It will need to evolve all.
  • 24:12 And that is also the key to success
  • 24:14 in Africa, and those are low income countries.
  • 24:19 Stephane, our next question is from Nigeria.
  • 24:22 So [inaudible] from Nigeria,
  • 24:25 asked another, one of the top questions we received.
  • 24:28 How will the youth take the driver's seat in this campaign?
  • 24:31 Young people are impressively committed to climate action,
  • 24:34 but they often feel discouraged
  • 24:36 because of the amount of work that needs to be done. but they often feel discouraged
  • 24:36 because of the amount of work that needs to be done.
  • 24:40 What can we focus on to remain positive?
  • 24:43 [STEPHANE HALLEGATTE] Young people today are well informed,
  • 24:47 very aware of the climate challenge,
  • 24:49 so I don't think they need me or anyone else
  • 24:51 to tell them what to do. so I don't think they need me or anyone else
  • 24:51 to tell them what to do.
  • 24:53 But I want to answer on the discouragement question.
  • 24:55 Because that's a little bit
  • 24:57 what we try to do with this event
  • 24:59 is to show that this change is difficult.
  • 25:01 It is ambitious, but it is possible
  • 25:04 and we know where to go.
  • 25:05 We have a strategy to achieve zero net emissions.
  • 25:09 And one of the big obstacles on the way is discouragement.
  • 25:12 I was in a high school recently and asking
  • 25:15 if they believed we will manage to reduce emissions to zero.
  • 25:19 Not one of them in the classroom said yes.
  • 25:21 If we don't believe we can do it, we won't do it.
  • 25:24 So it's really important to keep in mind
  • 25:26 that it is a challenge, but we have solutions.
  • 25:29 We have talked about them
  • 25:30 and we should be able to do it,
  • 25:33 if we get to work and we implement.
  • 25:35 And by the way, this is true for climate.
  • 25:37 But if you think about poverty or education,
  • 25:40 it's also one of our big objectives, But if you think about poverty or education,
  • 25:40 it's also one of our big objectives,
  • 25:42 and it's the same thing.
  • 25:43 If we believe we can do it
  • 25:44 and we invest in it and we implement,
  • 25:46 we can do it in the next decade.
  • 25:48 [MERIEM GRAY] Thank you, Stephane.
  • 25:50 Thank you, Axel. Thanks for joining us today.
  • 25:52 [AXEL VAN TROTSENBURG] Thank you.
  • 25:54 [MERIEM GRAY] We hope you've enjoyed
  • 25:55 this journey with us.
  • 25:57 We really wanted to bring down different stories,
  • 26:00 prospective solutions that are helping us
  • 26:03 to tackle the climate crisis.
  • 26:05 And there is still a lot to watch back about this event,
  • 26:09 as well as previous ones on economic growth
  • 26:12 and ending pandemic. as well as previous ones on economic growth
  • 26:12 and ending pandemic.
  • 26:13 And we'll be back tomorrow
  • 26:14 with last public event in these annual meetings
  • 26:17 on the role of trade in supporting economic growth.
  • 26:20 This is all at live.WorldBank.org.
  • 26:25 And to bring us to a close, today we asked
  • 26:27 young activists, students and climate Champions
  • 26:30 who gathered a few weeks ago
  • 26:32 at the Youth Climate Summit
  • 26:34 to tell us we what they want to see happen
  • 26:36 at COP26 in Glasgow.
  • 26:51 - [MAN] Dear leaders. - [MAN] Dear leaders.
  • 26:53 - [WOMAN] Dear leaders. - [WOMAN] the world is watching.
  • 26:57 [WOMAN] At COP26, I want to see you...
  • 26:59 [WOMAN] ...see decision making power
  • 27:01 to those with lived experiences of the climate chaos.
  • 27:04 [WOMAN] I want you to increase climate finance
  • 27:07 for adaptation, for loss and damage and for mitigation.
  • 27:10 [WOMAN] I want to see you
  • 27:12 provide billions of dollars of grants [WOMAN] I want to see you
  • 27:12 provide billions of dollars of grants
  • 27:14 to developing countries.
  • 27:15 [MAN] I want to see you commit to 1.5°C.
  • 27:18 [MAN] To a abolish fossil fuels by 23.
  • 27:21 [WOMAN] Bring forward female voices,
  • 27:22 [MAN] Create a new normal.
  • 27:24 [WOMAN] And just stick to your promises
  • 27:25 instead of making new ones.
  • 27:27 [WOMAN] I want to see that the perspective
  • 27:30 of Indigenous and local communities
  • 27:32 is incorporated in the indices.
  • 27:35 [MAN] You must adopt the Paris rolbook
  • 27:37 and place the most vulnerable in the center of your decisions. [MAN] You must adopt the Paris rolbook
  • 27:37 and place the most vulnerable in the center of your decisions.
  • 27:40 [MAN] I want to see action, ambition.
  • 27:43 [WOMAN] I want you to hear young people's voice
  • 27:45 [WOMAN] On how we can create
  • 27:47 a more sustainable fute together.
  • 27:49 [MAN] Promote social justice.
  • 27:51 [WOMAN] It's too late to turn a blind eye.
  • 27:54 [WOMAN] We see you. Do you see us?
  • 27:56 [MAN] What has been done until now?
  • 27:58 [MAN] Please make a decision based on your conscience.
  • 28:02 [WOMAN] Set your sights high.
  • 28:03 [WOMAN] Show us what real action looks like.
  • 28:08 [MAN] The eyes of the world are on COP26.

Meet our Experts Bloggers

Lead Climate Change Specialist, World Bank Group

Read the chat below

 

Watch More Events

Annual Meetings 2021 - Generic postcard

ANNUAL MEETINGS 2021

Tune in, ask questions, and share your views with participants from all over the world during the 2021 Annual Meetings of the World Bank Group and the International Monetary Fund (IMF).

Watch the World Bank Group public events:

Oct. 11: Growth in a Time of Crisis
Oct. 12: Civil Society Townhall
Oct. 12: Ending the Pandemic
Oct. 13: Opening Press Conference
Oct. 14: Making Climate Action Count
Oct. 15: Trade to the Rescue

Receive updates about upcoming events!

Language: